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Gold Pound Price Today: Record Levels and Global Demand Updates

Written by Islam Saeed Wednesday, November 1, 2023 09:00 AM The price of the gold pound today, Wednesday, recorded levels of 20,600 pounds per gram without adding workmanship, and the workmanship of the pound was recorded gold In Egypt, markets range from 250 to 400 pounds, depending on the producing company.

We publish a price Gram of gold At the beginning of trading today, Wednesday, a gram of 21 carat gold, which is the best-selling gold in Egypt today, recorded 2,575 pounds per gram, while the international ounce on the stock exchange fell at 1,969 dollars, falling below 2,000 dollars.

Gold prices today:

24 karat records 2940 pounds.

21 caliber records 2575 pounds.

18 carat costs 2225 pounds.

The gold pound is 20,600 pounds.

World Gold Council

The World Gold Council announced in its report on Gold statuses During the third quarter of 2023, demand from global central banks is still high, recording the highest purchasing pace since last year, as demand for gold, excluding the stock market, increased during the third quarter by 8%, while demand from central banks has increased by more than 14 percent since the beginning of the year. % compared to the same period last year, reaching a new record level of 800 tons of gold.

It also rose Demand for gold Including trading on stock exchanges, it increased by 6% on an annual basis, reaching 1,267 tons of gold, and during the third quarter alone, the demand for gold by central banks increased by 337 tons, which is the third largest level of purchase during a quarter, according to data. World Gold Councilbut it is less than bank purchases in the third quarter of 2022, when it was worth 459 tons.

Investment demand through gold-backed investment funds in the third quarter reached 157 tons of gold, according to the Gold Billion report. Although it rose by 56% year-on-year, it remains weak compared to the five-year average of 315 tons. Gold investment funds globally lost 139 tons in the third quarter, represented by the exit of investments from investment funds at -244 tons less than the outflows from the third quarter of 2022.

Investment in bullion and coins fell by 14% year-on-year to 296 tons, led by a sharp decline in demand from the European region. While consumption of jewelry and gold jewelry declined slightly, down 2% year-on-year to 516 tons due to strong gold prices.

Gold mine production reached a record high of 971 tons in the third quarter, helping push total gold supplies to 1,267 tons, 6% higher year-on-year. While mine production since the beginning of the year reached 2,744 tons of gold, which is a new record level.

The World Gold Council indicated that the average price of gold during the third quarter was $1,928.5 per ounce, according to the Market Association. Gold bullion In London (LBMA), although it was 2% lower than the record level recorded in the second quarter, it was 12% higher compared to the third quarter of last year, and many countries witnessed a rise in local gold prices due to the weakness of the currency against the US dollar. Including Japan, China and Turkey

2023-11-01 07:00:00
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